Principal Diversified Income recently announced tweaks to its team and approach. Effective the second quarter of 2022, it will shift some assets from U.S. equity into U.S. investment-grade bonds and focus primarily on fixed income. Kelly Grossman and Marc Dummer, who oversee risk analytics and global high-yield bond manager selection on this strategy, respectively, will step down from the roster and move onto newly created roles within the organization. These changes build on the team’s previous modifications to emphasize fixed income and do not influence each share’s Morningstar Analyst Rating, which range from Neutral to Negative.
Principal Diversified Income A PGBAX
NAV / 1-Day Return
12.44
/
0.08
%
Total Assets
3.8 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.000%
Expense Ratio
1.000%
Fee Level
Average
Longest Manager Tenure
12.23
years
Category
Allocation--15% to 30% Equity
Investment Style
Mid BlendCredit Quality / Interest Rate Sensitivity
—Status
Open
TTM Yield
4.73%
Turnover
94%
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
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The People Pillar is our evaluation of the PGBAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
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People and Portfolio Changes in Principal Diversified Income; Ratings Unchanged
